Why do we buy precious metals?
First and foremost, gold and silver have been valuable for more than 5000 years – either as jewellery, currency, means of exchange, and, of course, for industrial purposes.
Timeline and reaction of gold and silver prices
- 2002 Currency reform DM in €
- 1 g. Au 12 €
- 1 oz. Ag 15 €
- 2007 Beginning of the financial crisis
(Scope of financial transactions exceeds the real economy by 90%)
The US mortgage bubble threatens to burst- 1 g. Au 17 €
- 1 oz. Ag 09 €
- 2008 The USD falls dramatically - stock exchanges on downward spiral
Oil price at all-time high
Lehmann Brother Investment bank insolvent
US AIG nationalized with 85 billion USD
ECB lowers by 75 points in a day (!)- 1 g. Au 20 €
- 1 oz. Ag 07 €
- 2009 Socialists win election in Greece
They create 12.7% above GDP new government debt
World economy loses 5% compared to the previous year
Germany's GDP falls from + 2.5% in 2007 to -3.5% in 2009- 1 g. Au 22 €
- 1 oz. Ag 13 €
- 2010 Foundation of the European Financial Stability Fund
Asian industry demand is reviving world exports
Beginning of the euro crisis by Greece- 1 g. Au 34 €
- 1 oz. Ag 22 €
- 2011 Boom on exports slowed down
The Syria war begins
Government of the Greeks resigns
Spain, Portugal, Ireland and Cyprus are hit by the euro crisis- 1 g. Au 39 €
- 1 oz. Ag 29 €
- 2012 € debt crisis reaches Germany
biggest economic crash since financial crisis
Debt cut for Greece
Start of unlimited bond purchases by the ECB- 1 g. Au 44 €
- 1 oz. Ag 26 €
- 2013 Controversy between "troika" and the bankrupt states
Government crisis in Italy
Beginning of the North Korean crisis
Biggest gold price manipulation of the last 20 years- 1 g. Au 33 €
- 1 oz. Ag 17 €
- 2014 Oil price falls dramatically
Global economy is weakening- 1 g. Au 30 €
- 1 oz. Ag 16 €
- 2015 Europe recovers laboriously
European refugee crisis
Asian markets stagnate
Uprising of the Kurds and the opposition in Turkey- 1 g. Au 36 €
- 1 oz. Ag 15 €
- 2016 World Bank
World Bank sees moderate increase in global economic performance
Brexit; Donald Trump becomes 45th President of the USA- 1 g. Au 37 €
- 1 oz. Ag 17 €
- 2017 Tightening diplomatic relations
between Germany, Turkey and Russia
US provoked by missile tests of North Korea
Israel initiative to Syria is strongly rejected by Putin- 1 g. Au 36 €
- 1 oz. Ag 18 €